Education plays a crucial role in the advancement of a nation. It must evolve to meet the demands of contemporary society and the shifting global landscape. Education offers a platform for critical examination of the social, economic, cultural, moral, and spiritual challenges that humanity encounters. For India to propel its economy forward, it requires more efficient and educated communities. Numerous Indians across the globe are recognized for their talents and expertise, which can contribute to establishing India as a center for education or as a valuable participant in the global economy. It is imperative for India to enhance the quality of its education system, particularly in higher education, alongside a robust research and development framework. In the context of globalization and liberalization, the government has been reducing its incremental investment in higher education, leading to a gradual transfer of accountability to private stakeholders. It is essential for the government to maintain its support for financing higher education to fulfill both educational and social development objectives. The decline in public sector funding, coupled with a significant increase in enrollment in private institutions, suggests a deterioration in education quality and highlights the potential for private investment in higher education